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if I buy a money back plus plan with sum assured of rs 500000 . Unfortunately I died in the 14th year of the plan, what would be death benefit payable to me ? A : rs. 500000 B : Rs. 500000 plus bonus (if any) C : Rs 500000 plus bonus (if any) minus surival benefits paid.

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MIC Staff

January 19, 2012 : Answered in 6 Months 21 Days

The answer to your question is B. If you have a participating policy, then you would be eligible to receive bonus and not otherwise.

Amount of Survival Benefit paid has no relation to Death Benefit. Death Benefit will minimum be Rs 5 lakhs.